What Is the Distinction Between Innovation and Invention

question 46

Essay

What is the distinction between innovation and invention?

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Definitions:

Population Growth

The increase in the number of individuals in a population, usually measured over a specific period and influenced by factors such as birth rates, death rates, and migration.

Expected Population

An estimation of a population size in the future based on current trends and changes.

GIC

Guaranteed Investment Certificate, a type of Canadian investment that offers a guaranteed rate of return over a fixed period.

Maturity Value

The total amount of principal and interest due to be paid at the end of a loan or investment period.